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17:20
The Federal Reserve's reverse repurchase operation accepts $1.832 billion
The Federal Reserve accepted USD 183.2 million from 16 counterparties in the fixed-rate reverse repurchase operation.
17:20
Bank of America warns: Surge in warning signals, it's time to "take profits"
Strategists pointed out that given the presence of “too many warning signals” (including consumer confidence data and credit stress indicators), investors are advised to “take profits.” The S&P 500 Index is currently “statistically overvalued.” Individual stocks may still have room for excess returns, but the overall market-cap-weighted index may struggle to perform. Bank of America has set a year-end target of 7,100 points for the S&P 500 Index.
17:12
The private credit fund under Blue Owl, which was impacted by redemptions, plans to raise $500 million through bond issuance.
According to informed sources, Blue Owl Credit Income Corp. has launched a five-year note issuance with a spread of 2.55 percentage points over US Treasury bonds. This is about 25 basis points narrower than the initial price guidance. The source stated that the proceeds will be used to repay debt. (Bloomberg)
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